5. Choosing the Best Projects

Since the FOAK program funds only 20 to 25 new projects each year, it is extremely competitive and has an investment strategy that is carefully monitored and managed (but dynamic, based on changing marketplace needs). Although the FOAK program aims to be light on process, it needs structure to make the most of its limited resources.

Throughout the FOAK program’s history, its leadership (the FOAK Board and its supporting Program Management Team (PMT)) has needed to balance process and discipline with creativity and entrepreneurship. Too much process could discourage creativity and deter the researchers from participating in the program. Proposals that have made it through the Industry Research Relationship Manager ...

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